Strategy

By John Haber, [email protected]

For the past two months, consumers have paid higher gas prices as a result of the political unrest in the Mideast. But, consumers aren’t the only ones feeling a pinch. Retailers are feeling it too as many suppliers, manufacturers and distributors implement “emergency fuel surcharges” as reported by The Wall Street Journal in late March of this year.

MINNEAPOLIS -- Best Buy said that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.

New York City -- Wal-Mart Stores has agreed to pay $440,000 to settle a federal harassment lawsuit by 10 employees who say they endured ethnic slurs and derogatory remarks on a daily basis while working at a Sam's Club store in Fresno, Calif. The EEOC announced the settlement Thursday.

Nine of the lawsuit plaintiffs were of Mexican descent and one was married to a Mexican. The alleged harasser was a Mexican-American co-worker.

Dallas -- Zale Corp. announced Friday that it has been cleared by the Securities and Exchange Commission in its investigation and that the SEC will not take any action against the company.

The SEC began investigating the jeweler in October 2009 after it restated its 2008 and 2009 earnings. The company said at the time that a financial audit had uncovered internal control and accounting issues related to advertising costs, income taxes and internal company payments, among other things.

Toronto -- Web-based task management and store communications provider Opterus said that sporting goods retailer Retail Concepts has implemented Opterus Store Ops-Center.

According to Opterus, Retail Concepts, which operates stores under the Sun & Ski Sports banner, is looking to increase operational productivity by more than 20%.

Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence rose for a third straight week, indicating an improving job market and more positive attitudes about finances and the economy.

The Bloomberg Consumer Comfort Index climbed to minus 43 in the period to April 10, the best showing since the end of February, following a minus 44.5 reading the prior week.

FRAMINGHAM, Mass. --Staples announced that it will be selling Barnes & Noble's Nook Color tablet e-reader, making it the first office superstore to offer the device. The Nook will be available at Staples stores nationwide and at Staples.com for $249, beginning May 1.

Salisbury, N.C. -- Bottom Dollar, a division of Delhaize American, has entered the Philadelphia market, opening a 17,000 sq.-ft. store.

“While we have opened 18 stores in the greater metropolitan area, this is our first store in the heart of Philadelphia, and we are truly ecstatic,” said Meg Ham, president, Bottom Dollar Food, said in a statement.